COALINDIA trade ideas
Coal India is approaching the Symmetrical TriangleCoal India is Offering for Sale (OFS) its shares at 5% Discount on Retail. The Current Price is 275.85 and the Company is offering its shares at 266 (Floor Price) from 9:15 AM to 3:30 PM for 31st October and 1st November.
If we are able to get our hands on this share at a price of around 266 area, it would be in our Buy Zone of the Symmetrical Triangle. We could expect further a break or bounce Scenario from thereafter.
COAL INDIA Ltd: Buy @CMP 245.50, SL 230, Target 320, 427Excellent bottom fishing opportunity in Coal India Ltd. Its trading near IPO Rate(Rs.245). This zone is major support point( Analyze coal India's behavior during Aug 2013 to Feb 2014). Nearly 2cr quantity traded on major reversal day(17 Aug 2017) which was highest since Feb 2015. All in all excellent risk reward zone to initiate the trade.